Mr. Speaker, if these are supposed to be investments rather than loans, then I presume we now have an equity position in all these companies. Maybe we have shares in all these companies as the Government of Canada.
The whole loans and grants system in the country is out of control. Nine of the last ten TPC grants went to Liberal ridings. The Liberals shovel money to their corporate buddies who dutifully shovel it back into the coffers of the Liberal Party.
What tangible benefits can the industry minister tell us these TPC loans have produced? How does he explain that only 2% of these billions of dollars of loans have ever been repaid?